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WazirX’s WRX token declines over 50% after Binance halts trading

WazirX Suffers MAJOR Setback: The price of WazirX (WRX) dropped by 60.54%, reaching 0.09525 USD, following Binance’s announcement to delist the token due to low trading volumes and compliance issues, leading to investor apprehension.

Legal Issues Amplify Risk: The Delhi HIGH Court has ordered a new investigation into WazirX’s serious security breach, demanding a status report by February 13, 2025, after rejecting an earlier police report on the hack.

Security Breach Highlights Concerns: WazirX’s Safe Multisig wallet was compromised, with approximately 234.9 million USD in tokens stolen, raising alarms over the exchange’s long-term viability amid regulatory challenges and a severed relationship with Binance.

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